ASEAN: Maize Market 2024

Maize Market Size in ASEAN

The ASEAN maize market reached $X in 2022, rising by X% against the previous year. In general, consumption recorded a prominent expansion. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Maize Production in ASEAN

In value terms, maize production dropped to $X in 2022 estimated in export price. Over the period under review, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Indonesia (X tons) remains the largest maize producing country in ASEAN, comprising approx. X% of total volume. Moreover, maize production in Indonesia exceeded the figures recorded by the second-largest producer, Thailand (X tons), twofold.

In Indonesia, maize production increased at an average annual rate of X% over the period from 2012-2022.

In 2022, the average yield of maize (green) in ASEAN contracted modestly to X tons per ha, which is down by X% compared with the previous year. The yield figure increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in 2014 when the yield increased by X%. As a result, the yield reached the peak level of X tons per ha. From 2015 to 2022, the growth of the maize yield failed to regain momentum. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.

In 2022, the total area harvested in terms of maize (green) production in ASEAN soared to X ha, jumping by X% compared with the previous year's figure. The harvested area increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the harvested area dedicated to maize production attained the maximum at X ha in 2020; however, from 2021 to 2022, the harvested area remained at a lower figure.

Maize Exports

Exports in ASEAN

In 2022, the amount of maize (green) exported in ASEAN fell to X tons, waning by X% on the previous year's figure. In general, exports, however, recorded resilient growth. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, maize exports fell to $X in 2022. Overall, exports, however, recorded a measured increase. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Thailand represented the largest exporting country with an export of around X tons, which amounted to X% of total exports. It was distantly followed by Malaysia (X tons), making up a X% share of total exports. The Philippines (X tons), Indonesia (X tons) and Vietnam (X tons) took a relatively small share of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Thailand ($X) remains the largest maize supplier in ASEAN, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports. It was followed by the Philippines, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Thailand totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and the Philippines (X% per year).

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, which is down by X% against the previous year. Over the period under review, the export price recorded a pronounced downturn. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (X%), while the other leaders experienced more modest paces of growth.

Maize Imports

Imports in ASEAN

For the third year in a row, ASEAN recorded growth in supplies from abroad of maize (green), which increased by X% to X tons in 2022. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 with an increase of X%. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, maize imports expanded markedly to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the immediate term.

Imports by Country

Singapore represented the largest importer of maize (green) in ASEAN, with the volume of imports reaching X tons, which was approx. X% of total imports in 2022. It was distantly followed by Malaysia (X tons), Thailand (X tons) and Brunei Darussalam (X tons), together achieving a X% share of total imports.

Singapore experienced a relatively flat trend pattern with regard to volume of imports of maize (green). At the same time, Brunei Darussalam (X%) and Thailand (X%) displayed positive paces of growth. Moreover, Brunei Darussalam emerged as the fastest-growing importer imported in ASEAN, with a CAGR of X% from 2012-2022. By contrast, Malaysia (X%) illustrated a downward trend over the same period. Malaysia (X p.p.) and Brunei Darussalam (X p.p.) significantly strengthened its position in terms of the total imports, while Singapore saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Singapore ($X) constitutes the largest market for imported maize (green) in ASEAN, comprising X% of total imports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore stood at X%. In the other countries, the average annual rates were as follows: Malaysia (X% per year) and Thailand (X% per year).

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2019 when the import price increased by X%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :